Coal Bed Methane
Market – Overview
The escalated demand for
natural gas is spurring the coal bed methane market share substantially.
Reports that investigate the energy and power industry have been presented by
Market Research Future, which produces reports on industry verticals that
appraise the market expansion and prospects. The market is expected to unlock
growth opportunities with a 4.05 % CAGR in the forecast period.
The presence of favorable
government initiatives is encouraging the entry of strong players in the coal
bed methane market. The upsurge in carbon dioxide emissions is another key
factor promoting coal bed methane market, as governments are focusing on
greenhouse gas mitigation seriously. The development of the coal bed methane
market to eventually replace conventional electricity sources is projected to
open up new prospects for growth in the approaching period.
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Segmental
Analysis
The segment review of the
coal bed methane market has been conducted on the basis of application,
technology, and region.
On the basis of technology,
the coal bed methane market is segmented into horizontal drilling, hydraulic
fracturing, and CO2 sequestration. The hydraulic fracturing segment leads the
coal bed methane market, due to the technological progress realized with this
technique.
The market for coal bed
methane is segmented on the basis of application into industrial, residential,
transportation, commercial, and others. The industrial segment of the coal bed
methane market globally is projected to record the maximum growth rate
throughout the forecast period.
On the basis of regions,
the coal bed methane market is segmented into South America, Asia Pacific,
the
Middle East, North America, Europe, and Africa.
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Regional
Analysis
The regional study of the
coal bed methane market covers regions such as South America, Asia Pacific, the
Middle East, North America, Europe, and Africa.
As per the study, the North
American region controlled the principal market stake of the coal bed methane
market in 2017. The North America region has notable players from the oil &
gas industry and increasing demand for sustainable fuel in countries like US
and Canada. The coal bed methane market is predicted to be largely motivated by
amplified focus on decreasing the dependence on usual sources of natural gas.
Additionally, the substantial level of natural gas production in nations such
as Saudi Arabia, India, China, and others is expected to have an optimistic
influence on the development of coal bed methane market through the forecast
period.
Competitive
Analysis
The significant players in
the coal bed methane market are Halliburton (US), Essar Oil (India), Reliance Power
(India), Chevron (US), BP (UK), Weatherford (US), Arrow Energy (Australia),
Conocophillips (US), China United Coalbed Methane Co (China), Encana
Corporation (Canada), Far East Energy Corporation (US), Blue Energy
(Australia), Santos (Australia), and Nexen Inc. (Canada), among others.
Industry Updates:
Aug 2019 Following the
commissioning of GAIL’s Urja-Ganga Pipeline, Essar Oil & Gas Exploration
& Production Ltd is preparing to more than double its coal-bed methane
(CBM) gas creation from the Raniganj East CBM block for an income boost. A
spokesperson attached to the progress said that the present production level of
EOGEPL was pointedly lesser than its capacity.
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